Two Aberdeen trusts announce £300m merger

Two Aberdeen trusts announce £300m merger

Two Aberdeen-managed trusts are set to merge after the boards, Aberdeen Equity Income Trust (AEI) and Shires Income, announced they have signed head of terms. Under terms of the agreement, Shire Income will merge into the enlarged AEI trust. The combined trust would manage somewhere in the region of £300m. In a stock exchange announcement, the two boards highlighted increased scale and liquidity as key benefits of the deal. The merger will take …

Shires Income to merge with Aberdeen Equity Income as last year's M&A "frenzy" continues

Update: The first investment company merger of the new year has been announced with Shires Income (SHRS) agreeing to fall on its sword and merge with stablemate Aberdeen Equity Income (AEI). Shires, a £123m, 5%-yielding UK equity income trust run by Aberdeen’s Iain Pyle, will enter into voluntary liquidation with shareholders able to roll over […]